Wall Street Journal, Mar. 24, 2016–Morath, Eric
The health of the country’s collective corporate balance sheets-or lack there of-will come into focus Friday.
Category: Top National News
Mortgage Applications Fall 3.3% as Rates Hold
CNBC, Mar. 23, 2016–Olick, Diana
Total mortgage application volume decreased 3.3 percent on a seasonally adjusted basis last week from the previous week, according to the Mortgage Bankers Association.
Here’s How You Can Win $10,000 From the IRS
Fortune, Mar. 23, 2016–Huddleston Jr., Tom
The IRS is running the challenge in partnership with the Mortgage Bankers Association, which is providing the prize money.
New Single-Family Home Sales Soar in Western United States
Reuters, Mar. 23, 2016–Mutikani, Lucia
Sales of new single-family homes in the United States rebounded in February, but the increase was concentrated in one region, which could suggest a loss of momentum in the housing market as the busy spring selling season kicks off.
Yes, TRID is Expensive, but Did the CFPB Reach Its Goal?
HousingWire, Mar. 23, 2016–Swanson, Brena
TRID, aka Know Before You Owe, caused mortgage lender back office fulfillment and post-closing costs to increase by an average of $209 per loan since October 2015, STRATMOR Group reported.
Why Are Mortgage Lenders Still Clinging To Their Precious Paper?
MortgageOrb, Mar. 23, 2016–Barnard, Patrick
Although several U.S. banks, along with Fannie Mae and Freddie Mac, now accept e-notes (and, hence, e-mortgages), only about 350,000 fully electronic e-mortgages have been executed on the Mortgage Electronic Registry Systems system so far, which is not a great deal of adoption considering how long e-notes have been around.
Black Knight: Mortgage Delinquencies Lowest Since 2007
HousingWire, Mar. 23, 2016–Barraza, Cynthia
The mortgage delinquency rate hit its lowest level since April 2007 as it fully recovers from January’s 6.6%, according to the latest report from Black Knight Financial Services.
Fannie Mae and Freddie Mac: If You Can’t Kill Them, Merge Them?
Wall Street Journal, Mar. 23, 2016–Light, Joe
A group including some of the chief architects of the Obama administration’s housing policy released a paper Wednesday outlining a new proposal for how to deal with mortgage-finance giants Fannie Mae and Freddie Mac.
FHFA Leans Toward Principal Cuts–But Why Now?
National Mortgage News, Mar. 23, 2016–Collins, Brian
The Federal Housing Finance Agency appears poised finally to allow principal reductions, but it’s been nearly a decade since the mortgage crisis and underwater borrowers are much fewer thanks to higher home values.
Bullard Sees Case for April Hike as Inflation Set to Pick Up
Bloomberg, Mar. 23, 2016–Matthews, Steve; Boesler, Matthew
Federal Reserve Bank of St. Louis President James Bullard said policy makers should consider raising interest rates at their next meeting amid a broadly unchanged economic outlook and prospects of inflation and unemployment exceeding targets.